In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Tesla became the first company to sell over two million electric vehicles in the third quarter of 2021, InsideEvs estimates. Tesla sold its 500,000 vehicle in the fourth quarter of 2018 and the one millionth vehicle in the second quarter of 2020.
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“There will be eight Teslas, 10 Teslas,” Gates said at the SSOV Climate Tech Summit. “And only one of them is, is well-known today.”
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Yes, Tesla made money in 2020. Tesla Motors (TSLA) reported a quarterly gross profit of $2.066 billion and a quarterly operating income of $575 million on 31 December 2020.
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I have to wonder how Tesla can make money in a business where impressive organizations such as Uber are losing money. Remember, Uber and Lyft each have over 10 years of experience with rideshare.
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Thus, Tesla is not generating large amounts of cash but Ford is. However, Ford is stuck with a money-losing legacy business that eats up a lot of its cash.
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